The International Automobile Federation (FIA) fines the Formula 1 teamRed Bull for seven million dollars for exceeding the spending limit, the contest’s official website reports.
All 10 teams had to submit 2021 expense reports by March this year. Friday October 28, in Mexico, the FIA announced a violation of the rules by Red Bull.
The team was found to have exceeded its allowable spend for 2021 by less than 5% (by 1.6%), which is considered a minor violation. The team must now pay the FIA a $7 million fine within 30 days.
“There is no allegation or evidence that Red Bull ever attempted to act in bad faith, dishonest or fraudulent…” the FIA said in a statement.
The team will also get a 10% reduction in wind tunnel testing limits.
Red Bull, three stages from the end of the Formula 1 season, secured victory in the Constructors’ Championship, and the team’s driver Max Verstappen also became a champion earlier than expected.
Earlier this year”williams was fined $25,000 for a procedural violation of financial regulations. The British team missed the deadline to submit their annual expenses.
Official site of “Formula 1”
Source : MatchTV
